Five Ways National Buying Power Helps Arizona Communities
But let’s look at it unconventionally. The ideal HOA management company not only has local depth but also nationwide breadth. That’s because a firm with a coast-to-coast presence can provide capabilities that smaller companies just can’t match - all without sacrificing the personal touch that is the hallmark of great HOA management.
Here’s a look at a few ways national buying power impacts Arizona HOA management.
1. Insurance and banking
When your HOA management company offers real estate financial services in house, it can make a big difference to your bottom line. FirstService Residential, for example, saves clients a collective $5 million every year in banking fees and costs. Beyond that, the company’s clients earn an additional $4 million in interest yield. How is that possible, you might ask?
As a national firm, FirstService Financial Services has the leverage to negotiate the best terms for Arizona communities managed by FirstService Residential. And it all happens through a unique convergence of two areas of expertise: capital markets and treasury management know-how, along with an unrivaled understanding of the real estate industry. What’s more, the size of the company enables it to secure insurance programs and packages that offer maximum coverage at minimal cost.
Only an HOA management company with significant resources can offer its clients the kind of forward-thinking tech solutions that truly make an impact. Although off-the-shelf programs abound, customized solutions like
FirstService Residential Connect™, the proprietary platform offered by FirstService Residential, is much more robust. For example, it enables associations to build websites that feature valuable tools for both residents and board members. In addition, it allows managers to report violations on the go through a custom mobile app; keeps residents informed about events and emergencies via email or telephone; and streamlines tasks such as package tracking, visitor management, valet services, concierge requests and amenity reservations.
There’s a reason you find better deals at big, national chains than at your local boutique: Larger companies have more purchasing power. This can translate into real savings for HOAs in Phoenix and throughout the state. Many of Arizona’s foremost home organizing, painting, and landscaping companies partner with HOA management firms in this way. So if your association is managed by the right firm, you can enjoy the price breaks offered to nationwide buyers.
4. Support for builders and developers
Every community deserves a strong start. To make this happen, FirstService Residential offers FirstService Association Consulting, a division that works shoulder to shoulder with builders and developers in Arizona to add value to their community projects. From budget development, to upcoming trends, to management models engineered specifically for this local market, we help ensure that new communities offer residents a quality, rewarding lifestyle—both now and into the future.
There’s real value in the deep expertise that only a nationwide organization can provide. Look to a firm that has worked with your type of community before. For larger organizations, this will not be an issue—their portfolios typically include a mix of master-planned, high-rise, condominium, and townhome communities. Large firms will be familiar with the specific challenges your type of community faces, and they will be adept at deploying proven solutions with speed and alacrity. In short, the bigger the firm, the shorter the learning curve.
Effective HOA management does begin on the local level, but it’s strengthened on the national one. For more on how a coast-to-coast company can help you right here in Arizona, contact FirstService Residential, the HOA management leader.